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Essay / Research Paper Abstract
This 5 page paper considers the Kreps model of a repeated game between employees and a firm, what this model says about the way a firm deals with its employees and the importance of employee perspective in the employment relationship. The bibliography cites 3 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEkrepee.rtf
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Unformatted sample text from the term paper:
holds the power, however, in terms of the game as identified by Kreps model the perception of the employee may be argued as being equally important as this impacts on
the way the game is played. The use of contracts are seen as one tool to control the relationship and behaviour of the parties to the employment contract, however,
games are also seen as way of controlling, this is used by both the employers and employees. Not all aspects of the employment
relationship can be controlled by formal agreements. Indeed, it has been shown where there are higher trust environment there are also higher levels of productivity. Therefore, trust is necessary. Where
the trust breaks down there will be negative consequences. If it is the employee that breaks the trust, then the employer may respond in the employment game by introducing more
rules and regulation, or reducing perks and benefits to the employee. If the employee feels that there is a reduction in trust for example, the employer has not followed the
informal rules, then they may also change their attitude, which will impact on productivity. This may be just in slower levels of work and less effort, ort may be in
acts of sabotage and the creation of unrest in employees. The extreme reactions may be seen where industrial disputes arise or work to rules occur.
This can result in a negative cycle, trust is broken on one side, so the rules are changed, this is determined by the other side as being
an unfair rule change so the attitude changes on the other side, regardless of which side is the employer and which side is the employee. The failure to co-operate
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